Central Banks
CPI quirk helps explain low Swiss inflation, says SNB’s Tschudin
Central bank official shares her views on monetary policy strategy
Economists design stress-test model of dominant currency
Geopolitical shocks can disrupt its hegemony, but dollar remains secure, NBER paper finds
Taxing unrealised gains could support financial stability – study
BoE paper finds conventional capital gains tax cuts historically increased asset price volatility
How do central banks handle criticism in the media?
Comms staff say critiques often are constructive while stressing the need for simple language
China’s growth model may deepen tensions with US – paper
PIIE research says economic policies driven by ‘national security logic’ may be contradictory
Eurozone inflation expectations steady as job fears grow
ECB’s latest data signals inflation is stabilising, but downward shift in labour sentiment may be ahead
High debt raises ‘macro-financial’ risks in Americas – BIS study
Bulletin says interest costs can result in risk premia feeding into inflation expectations
BoE staff find uneven policy transmission across businesses
Survey findings suggest larger firms with high productivity and borrowing have better access to data
Three veterans join Central Banking advisory board
New members have held top roles in Asia, Europe and the US
Leonie Dunn on Namibia’s technological advances
Deputy governor reflects on instant payments launch and digital transformation at the central bank, against a challenging macroeconomic backdrop
AI productivity shock may pull inflation up or down – BoE blog
Sectoral origin and speed of change will be key factors, economists find
Americans worried about their country’s solvency – NBER study
Bond investors, voters and economics graduates think risk of a US debt crisis is high, paper says
Nepal has greater stability, but now it needs growth – IMF
Fund’s mission chief says central bank reforms are among measures laying path for future prosperity
IMF paper details system-wide stress-testing methods
Economists propose adding data on bank-NBFI links and details of market microstructure
Book notes: The banker who made America, by Richard Vague
This well-researched book makes a strong case that without the efforts of Thomas Willing, the US war of independence may well have been lost
Jamaica and Uruguay hold rates
Central banks cite deteriorating geopolitical tensions and extreme weather as upside inflation risks
Iran’s central bank chief says its oil exports are at zero
Governor adds that foreign reserves remain frozen as Trump vows ‘economic D-day’ against country
Sweden holds while Iceland tightens
Both Nordic central banks cite lingering inflation risk, but reach different conclusions
US Treasury doubles long-term bond purchases
Treasuries with 10–20 and 20–30-year maturities to be bought at $4 billion 'per operation'
Ghana’s gold board rejects responsibility for $1.7bn losses
Dispute follows claim by politician citing a report by IMF
Warsh called for fewer FOMC meetings in July
Minutes show committee agreeing on above-target inflation but disagreeing over AI’s effect on prices